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Dec 3, 2012 7:00pm PST
that they didn't put their names on it. they said the whole thing was erskine bowles idea. they summarized the testimony that the bill clinton chief of staff last year gave about what he thought might kind of be a workable budget deal way back then. because bowles is a democrat, the republicans thought they he could try to pretend that agreeing with a single democrat means that they are actually willing to compromise big time even though erskine bowles is a very easy democrat to negotiate with, unlike the actual elected democrats in washington. in other words, erskine bowles is willing to compromise on things or was willing to compromise on things that the democrats are not willing to co comp pro mice on. which means that it's utterly meaningless on your way to try to get a deal with the president of the united states. erskine bowles' proposal included a $600 billion cut in medicare spending which he achieved by raising the medicare eligibility age. so republicans just proposed raising the eligibility age for medicare, a proposal that polls show is supported by a full 30% of the
Dec 9, 2012 8:30am PST
staff, erskine bowles, who chaired the first deficit reduction commission. they're concerned about the dangers ahead. so concerned that simpson took to the dance floor to urge young people to get involved. we'll also get the take of rising democratic star cory booker, the mayor of newark. what's his answer to the washington gridlock? and is he planning a run for governor against chris christie. for analysis, we'll turn to joe klein of "time" magazine. "washington post" columnist michael gerson, and our own norah o'donnell and major garrett, our chief white house correspondent. it's all ahead on "face the nation." captioning sponsored by cbs from cbs news in washington, "face the nation" with bob schieffer. >> schieffer: good morning, again. well, to the famous combos of modern life, from mac and cheese, peanut butter and jelly, rum and coke, bread and butter, and salt and pe pepper, add one more pair simpson-bowles. alan simpson may be in wyomingy and erskine bowles in north carolina but you can't mention one without think of the other. when you headed up the bipartisan deficit com
Dec 3, 2012 11:00pm PST
what erskine bowles offered to the select committee as a compromise between the democrats and the republicans. i'm certain if this is not good enough for the white house, we will go over the fiscal cliff. >> this is a compromise on taxes. this is a compromise on mandatory spending. and it's a compromise on discretionary spending over what the select committee had debated. >> i should mention that erskine bowles has put out a statement himself. while i'm flattered the speaker would call something the bowles plan. the outline in the letter the speaker sent to the president does not represent the bowles simpson plan, nor is it the bowles plan in my testimony on deficit reduction. i simply took the mid point of the public offers, put forward during the negotiations to demonstrate where i thought a deal could be reached at the time. he's very much backing away from speaker boehner's letter. the question i wanted to ask you is some of the details, as you know, it's all in. >> can we spin one more point on that? >> absolutely. >> here's speaker boehner who is taking a mid point on the co
FOX News
Dec 3, 2012 3:00pm PST
watched in horror in the summer of 2011. >> white house officials note that even erskine bowles is pulling back from the claim by boehner he is on board. in a few moments the president will be hosting the congressional ball, black tie holiday party. first time they will see him face to face in days. maybe they'll work on a compromise. >> bret: ed henry on the north lawn. thanks. let's talk about the fiscal cliff negotiations with one of the key democrats involved. chris van hol season a five-term representative from maryland. the ranking member of the house budget committee. thank you for being here. >> great to be with you. >> bret: where do you see the process now? >> we have been waiting for a response. he put something in writing. good news it's in writing and the bad news it doesn't get us moving forward. but piece of paper. that is a change. >> the piece of paper. house g.o.p. counter offer. revenue, $800 billion. health savings $600 billion. mandatory savings $300 billion. revision to cpi. $200 billion. net savings $2.2 trillion. i have a cording to the white house accountin
Dec 3, 2012 4:00pm PST
concerning to me. look, what he offered was what erskine bowles offered as a compromise to the democrats and republicans. i'm certain if this is not good enough for the white house, we will go over the fiscal cliff because this is a compromise on taxes. this is a compromise on mandatory spending and it's a compromise on discretionary spending over what the select committee had debated. >> the details if we can and i should mention that erskine bowles put out a statement saying this -- does not represent the bowles-simpson plan, nor is it the bowles plan. in my testimony before the joint select committee on deficit reduction, i simply took the midpoint of the public offers to demonstrate where i thought a deal could be reached at the time. he's very much backing away from speaking boehner's letter, but the question i wanted the to ask you -- >> can we spend one more point on that? >> of course. >> what did he say? that was the midpoint of a compromise from the two. so, here's speaker boehner who is taking a new point on the compromise between the two sides and offered it and it'
Dec 4, 2012 4:00am PST
deductions. >> but it's also a lot like erskine bowles proposal before the simpson-bowles commission. because in other words it came from bill clinton's chief of staff. this is where the proposal -- >> -- >> listen that's a point. that's how extreme this is, bob. and -- >> in terms of -- does not have the rate reductions, does not convert medicare and does not convert medicaid to a voucher. it doesn't have the structural changes that are objectionable to the democrats. there's a lack of specifics here. but if i'm the president i'm thinking they're putting $800 billion on the table in removing deductions and exemptions i'm going to pocket that and add some of the additional revenue from rates i can get from allowing rates to expire. >> we're going to be talking to senator johnson this morning also xavier becerra about the details or lack of details in the two competing plans at this point and how much bowles is connected or not connected to this plan. still ahead this morning on "starting point" a young cancer patient missing from a hospital and her life depends on finding her. we'll
Dec 10, 2012 9:00am EST
. erskine bowles on debt deal making, whether he wants to work for the obama administration and his pal simpson's newfound love for deficit hawk gangnam style. plus, what will had hillary clinton do next. the secretary of state's future. some of clinton's closest allies are keeping very quiet which actually was surprising. good morning. from washington it's monday, december 10, 2012. this is "the daily rundown." i'm chuck todd. we're in double digits in december. what does that mean? it means we're finally at the serious phase of the fiscal negotiations. three weeks to go before the proverbial fiscal cliff. actually it's not proverbial. so-called, right? let's not hope this becomes proverbial. anyway, the president's photo-op of the day will be at a suburban detroit auto plant. >> if we're serious about protecting middle class families and we're going to have to ask the wealthiest americans to pay higher tax rates. that's one principle i won't compromise on. the. >> the president is in detroit, daimler will announce a big $100 million investment to expand u.s. production in jobs. it's t
Dec 3, 2012 3:00pm PST
inspiration, democrat erskine bowles. >> there are over $7 trillion worth of economic events that are going to hit america in the gut. i think impact would be really strong. if anybody thinks this is going to be a slope better wake up. >> ifill: the link between brain injury and sports, new evidence ties repeated blows to the head to long-term damage. we take a look. >> brown: ray suarez looks at the firestorm over israel's announcement it will expand settlements in the west bank. >> ifill: elizabeth brackett looks at how one chicago school is dealing with the transition to new state-wide standards. >> i really did find that the kids do understand more, and they learn more. they're more interested in what they're learning. >> brown: plus, as global carbon dioxide levels hit record highs, we analyze the increasing difficulty of combating climate change, with carol davenport of the "national journal." >> ifill: that's all ahead on tonight's newshour. major funding for the pbs newshour has been provided by: moving our economy for 160 years. bnsf, the engine that connects us. and by t
Dec 10, 2012 6:00am EST
. >> that, of course, was alan simpson, the other half of simpso simpson-bowles. erskin bowles will join us this morning, as well. if you have the democrats quoting him, the republicans quoting him, we'll very where he comes down and where things stand right now. >> you do simpson-bowles now instead of the bowls-simpson? >> i looked it up on going.. the more often cited is simple is son-bowles. >> the journal has an interesting piece. they don't like corker for breaking rank. they say why are republicans negotiating this themselves? they say let boehner do the negotiations. anyway, you would be hard pressed to find something who sdn have aen opinion on the fiscal cliff. this weekend, the ahead of the imf said the united states is more vulnerable to its domestic trouble more than anything else happening in the eurozone. christine lagarde says a balanced approach is needed and she says don't kick the can down the road, which is rich coming from a european. >>> european trading the lower this morning. italy's prime minister mario monti, yes, the same one that is famous from all the anti-tru
Dec 4, 2012 10:00am PST
revenue side with deductions. here's what erskine bowles told my friend last night. >> i am positive that to get a deal done your' going to have to have higher tax rates on the top 2%. i'm actuallyequally sure $350 b worth of cuts that the president put on the table for health care entitlements, is not going to be sufficient to get the deal done. there's going to have to be compromise. >> compromise, that's a dirty word in washington. senator conrad, what do you think is going to be the outcome? is there going to be a deal? >> i think so. and, you know, it's not that far away. if you took the president's revenue and you took the republican's cuts, made some modifications to them, relatively modest modifications to them, you would have an overall package counting what's already been done of over $4 trillion which what is you need to get the country on track. we're starting to edge closer to a position that if you took both sides' positions you would be very close to a reasonable outcome. >> one of the questions the president was asked today, why don't you all get together and sit down
Dec 4, 2012 6:00am PST
which we continue to oppose. they were referring to an erskine bowles plan that he testified to in the fall of 2011. the white house made it clear that's a nonstarter and they won't even respond until the gop puts forth a plan that includes a tax rate hike. the obstacle continues to be republicans who hold out hope. millionaires and billionaires. while it sounds like the two sides are far apart, the budget numbers are not that far apart. the white house you get close. they say it lacks detail. doon pfeiffer says it does not say which loopholes they would close or savings they would achieve. if the president is rejecting this middle ground offer it is his obligation to present a plan that can pass both chambers of congress. are we at a stalemate who offers something next? house republicans said theirs mirrors one proposed by erskine bowles, the democratic chair of the fiscal position. bowles shot down that suggestion. while i'm flattered the speaker would call something the bowles plan, the approach outlined in the letter speaker boehner sent to the president does not represent the simp
Dec 3, 2012 3:00pm EST
essentially laid down is drawn from erskine bowles' individual testimony to the super committee in the fall of 2011. that is to say, not the simpson/bowles recommendation itself, but when erskine bowles testified and offered an alternative in trying to nudge them toward an agreement, this was not a republican proposal, per se, it was from erskine bowles. >> a prominent democrat. >> yes. >> thank you, john harwood. i can't believe we've had 13 months to figure out medicare, medicaid -- >> yes, you can. come o we're talking about congress. >> -- taxes, social security -- >> we're talking about politics. >> -- now down to the last 28 believes. >> of course you can believe that. that's how it works. it's human nature. did you study for your finals 13 months before you had to take them? you did not. >> that doesn't mean it's responsible. let's take a short break. 40 minutes before the closing bell sounds on the day. a market down 55 points on the dow industrials. >> ford and general motors getting a boost from all the folks who needed new cars after sandy. but is either stock a buy righ
Dec 11, 2012 9:00am PST
curious that boehner would have started with talking about erskine bowls. last week he said he already denounced what they were trying to say he said during the assessment. by this afternoon maybe within a k. hours we'll have more b roll of erskine saying that's not what i said. >> they have to be printing "i heart erskine bowls." >> he has said that's not actually what i meant or said. also, though, again, look at the polls. these guys continue to make their argument. they continue to lose in the polls. more and more people agree with the president, so whatever argument john boehner thinks that he is making, people are -- i mean, if anybody is scratching their heads, they're not buying it. >> it's interesting. he didn't talk about tax cuts at all in this. he is trying to change the terms to spending cuts because he thinks republicans play better in that territory than the president does, and they've kind of seemed to yield the issue of tax cuts for the rich or trying to protect them. i think this is really him talking to the tea party caucus because i'm less optimistic, as jim
Dec 3, 2012 1:00pm PST
maybe going back to paul ryan's budget. today he tosses out erskine bowles recommendation, aside from the fact he's a plagiarist, doesn't that indicate it's not a constructive and detailed plan. >> the onus is on the republicans to come up with a response. they failed to do that. what they came to a was erskine bowles plan which is funny for a lot of reasons. we don't have the time to get into it. >> we don't. >> it's not their plan. it doesn't deal with the specifics. we will have a moment of clarity, and if during that moment of claire clity the republicans don't back down, the public will see this same mechanism again they want to put their political maneuvering ahead of a common sense middle class approach for the whole country. i think this time will be worse for them than last time and i think the markets can see what's going on. >> okay. >> two final points -- >> i'm sorry, we just don't have enough time but thank you both. >>> next, republicans really did think mitt and paul were going to win, didn't they? might explain why they have no plan "b." stay with us. hungry for the b
Dec 3, 2012 6:00pm PST
." one man who has been searching for that balance is erskine bowles, who, with alan simpson, is co-author of a deficit reduction plan that neither side has previously embraced. i spoke with him a short time ago. erskine bowles, thank you so much for joining you. late this afternoon john boehner, the house speaker, sent a letter to the white house in which he said he needed to find different middle ground on this fiscal cliff issue. he particularly cited your report which he described as providing imperfect but fair middle ground as a way of breaking this political stalemate. he's saying only the president would adopt your approach that maybe this stalemate could be broken. what do you think about that? >> (laughing) well, i haven't seen the letter, as i think you know. it's nice that the speaker would give me some credit for trying to do that. but what he is referring to is when i testified before the super committee, i tried to show these guys that if they truly wanted to ghettoing that they could ghettoing at that time. and basically as an example on discretionary spending they w
FOX Business
Dec 4, 2012 10:00pm EST
chief of staff the name of erskine bowles, and in that has popped up again. and he immediately called me and said to my here to work with you and that enabled us to do al of things that i don't think the republicans today can get done with this obama white house. lou:and are you and i in agreement th the republicans are not innear sufficiently strong position, not with the lack of taent, there are ome quesonsabou that but because of the lack f power of the leaers in the house and the role of the housen this negotiation. >> i am not prepared to ay that. i go up to the capitol every week and meet with the republican leaders and lten to them as thy talked very openly about what tir views are d what they're trying to get done. and i cantell you tt they are a lot stronger than they have been presented by the conservative media. the interesting thng about the speaker is to o make you look carefully at his roposals, he is never implyg that e would increase tax rates. and yet the mentiod the breitbart comments. and that is really not accurate. lou: you know, as a former --as a distingu
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Dec 10, 2012 6:00pm PST
source. erskine bowles is publicly stating that the white house's proposal simply will not work. ouch. take a look. >> spending is the biggest part of this problem. even if you raise the top rates back to the clinton rates, you know, that only creates about $400 billion over 10 years. that's $40 billion a year. we got a trillion dollar a year deficit. that alone won't solve the problem. we have to cut spending. we're going to have to do more. you know, we may not like it. you know, we may wish we didn't. we simply made promises we can't keep. we've got to face up to it and we've got to have a bold decision in order to make sure we put our fiscal house in order. >> sean: sadly we know all too well that cutting spending has become a foreign concept in america. a new congressional budget office report revealed that the federal government borrowed 46 cents of every dollar it spent this fiscal year. however that staggering number is not likely to sit well with an overwhelming number of men's. according to a brand-new george washington university poll 76% of those surveyed across america su
Dec 4, 2012 6:30pm PST
co- chairs erskine bowles and alan simpson to launch the "fix the debt" campaign. darren gersh spoke with maya macguineas, one of the organizers of the campaign. darren began by asking her if the business leaders are making a difference. >> i think the whole campaign is making a difference in that what we actually have is now over 300,000 citizens, 2,500 small businesses, well over 100 c.e.o.s and partners across the country who are basically trying to deliver a message that is different. and the message isn't take this off the table, take this off the table, take this off the table, at which point you have nothing left on the table and we can't fix the problem. but it is, we want the country to come together. we want them to come up with a plan that is big enough to fix the problem, and we want them to do it in a way that is bipartisan. on the business leaders, they have, up until this moment, not been that involved in the issue. last summer, when we had the debacle about the debt ceiling, einsmall i think small businesses and large businesses realized they couldn't function i
Dec 16, 2012 3:00pm PST
erskine bowles and alan simpson's plan, and that would include big durbin, tom coburn, mike crapo from wyoming. there are a handful of people who did. what you are confronted with right now is the reality that not since 1990 has any republican and a house or this and -- the house or the senate voted for any tax increase. what they are terrified of is a primary challenge. they have all of these bedwetters and nervous nellies in the caucus who are terrified they will be primary if they vote to increase the taxes of donald trump by a dime. >> when you listen to mark, you think this is a republic governed by the house of representatives. aptly, we have a president. as evan indicated, a heat south peddled it, as not shown leadership? he has done nothing. >> he has done nothing -- >> he appoints a debt commission and then he ignores it. he has never proposed in public ever a single serious change in entitlements. he knows exactly what all of this note, that it has to be done. the republicans responded to the election the day after by offering to change that 20 years to raise revenues, e
Dec 2, 2012 6:00pm PST
%. >> that is erskine bowles, who along with alan simpson shared the deficit reduction commission a couple of years ago. they are both in town trying to pound a sense at into elected leaders. evan thomas has been out of town promoting his book, "ike's bluff." terrific christmas present. >> thank you. >> as i recall, we were having the same composition we are having now. >> like groundhog day. talk about bluffing -- they will be complete unreasonable until the last second where they agreed. while they are bluffing, we could go over the cliff. >> where are we headed, mark? >> one side says that raising tax rates is an example, the other side says we will not balance the budget on the backs of students and seniors without asking those who make as much as i do not to pay another diamond. we are in the chest thumping a stage of this negotiation. we are interested in the product rather than the process. the process does the fact of the product and you don't want hostilities to make the final product unreachable. >> nina, there were a bunch of c.l.'s in town saying please do something so we can p
Dec 4, 2012 2:30am PST
in a letter to the president, republicans attempted to sell the offer as the erskine bowles plan, comparing it to the same offer he drew up last year. >> i think he'd disagree. >> the co-chair of obama's deficit commission, but yesterday mr. bowles flatly rejected that connection. meanwhile, the white house is turning to campaign style messaging as a reminder of whose tax plan was chosen in the court of public opinion on election day. >> under my plan, first of all, 98% of folks who make less than 250,000, you wouldn't see your income taxes go up a single dime. all right? because you're the ones who need relief. but we're not going to be able to get it done unless we also ask the wealthiest households to pay higher taxes on their income officials $250,000. the same rate we had when bill clinton was president and our economy kree aed nearly 23 million new jobs. >> and there are reports that republicans are considering a doomsday plan should talks break down. according to senior republican sources the gop would allow a vote on extending bush tax cuts for the middle class and nothin
Dec 1, 2012 1:00am PST
big three on the entitlement programs. most of us would love to see an erskine bowles type of solution put on the table here. >> so what if there were -- >> the simpson/bowles, sorry. >> simpson/bowles, i understood what you mean. there is an erskine bowles as well. what about congressman tom coley, your colleague, and his overture that you would be ready to get moving and make this overture saying, i'm fine. i'm fine with this $250,000 a year family not getting a tax cut and letting that expire, that tax cut for those wealthier 2% to expire. there are a couple people who have come out with that. mary bono mack has said that doesn't sound too bad. also robert dole who said that. what about you? >> yeah, no, i don't support that. and tom is a great political strategist and what he was saying is, hey, look, we know there will be a revenue increase. if we can get that, big deal. and so let's just go ahead and take it off the table, you know, let's take that leverage away from the president there, but the reality is as a republican who my very core principles are lower taxes, limi
Dec 4, 2012 5:30pm PST
even more than it already is mess up. >> ifill: do you agree with erskine bowles who told us where we are right now resembles theater? >> i think it's a little bit more than that. i think that there is a much deeper partisan divide. i think erskine bowles, bless his mart heart, still wants to believe we live in the washington of 20 or 30 years ago where reasonable men could ghettoing and make sensible deals. i don't think we're in that washington anymore. i think this is going to be... i don't think there's going to be much of a deal. i think there's going to be a kind of... there will be an outcome which hopefully won't be too bad. but the idea that we're actually going to have a guy shaking his hands and everybody feeling good about the outcome. that's not necker in the year 202 or 2013. >> ifill: paul krugman of princeton iversity and t "new york tes." thank you very much for joining us. >> thank you. >> ifill: we'll continue our conversation series in the days to come. that will include an interview with one of the most vocal conservative opponents of higher taxes, grover norquist
Dec 10, 2012 8:00pm PST
with erskine bowles, the bowles in simpson-bowles and even he agreed that bill gross is right. >> absolutely. he's 100% right. i don't know if 16's number but i would be happier at $5 trillion or $6 trillion because that's what we need to solve the problem long term. >> those are big numbers. bilg gross will be with us in a moment. i want to bring in john avalon right now. this is what i find incredible we are getting so focused on the deal and the politics of a deal and going off the cliff and if the cliff is a slope and missing the overall picture which is that we have a bigger crisis than anybody's talking about. >> that's a great point and exactly right and what they have been warning about. look. politics is the art of the possible and near term that focus on $4 trillion, $2 trillion, look how hard that is to get to. it doesn't begin to solve the larger problem. we need to get economic growth and cuts in ways that this congress can't contemplate. >> thank you. now let's bring in bill gross, founder of pimco. they said we're talking now and getting a deal done and focused
Dec 3, 2012 5:00pm EST
to what erskine bowles, the former clinton chief of staff, who was the co-leader of the simpson- bowles commission, separate from that commission, mr. bowles testified before the super committee last year and testified at that time. republicans say that their current model is modeled after that offer. the simpson-bowles model has gone on lot of talk in the last two years. it is proposed on democrats in these discussions. on the revenue side, but $800 billion that they are offering, that is the same of what speaker john vader, offered the president in their negotiations -- speaker john boehner offered the president in their negotiations in 2011. the white house has consistently signaled a loss of of weeks that they will not accept any deal that keeps tax rates for the wealthy. >> russell burma is a staff writer for the hill. thank you. >> thank you. >> and you can go to our website to read the letter that the president wrote to house rubble can survey. it was signed by house speaker john vader, majority leader eric cantor, and four others. a group of retired military o
Dec 3, 2012 7:00pm EST
skirmish here between the speaker of the house john boehner and erskine bowls. boehner said this was based on a report that bowles laid out. bawls said no. he said the approach laid out does not represent the simpson-bowles plan or the bowles plan. in fact what bowles is is that the speech that boehner based his proposal on was something that bowles had laid out in the middle of the negotiations last year as the mid-point between two sides but bowles is saying today that the mid-point has changed, a lot has changed since last year and it's up to the negotiators to figure out where that mid-point is and where and if they can get a deal, larry. >> we'll leave erskine bowles to his own devices. this is not perfect. i'm not writing it. it's not perfect. here's boehner literally bending over backwards, rising above partisanship and the white house just slaps him down. slaps him down. don't they know how bad they are starting to look? only on the basis that boehner didn't raise tax rates on the rich but does have a tax concession on deductions. this is getting pretty silly. if the president want
Dec 3, 2012 10:00am PST
. roger altman, former treasury official, larry fink, be erskine bowles. this what is alan simpson, erskine bowles' partner in the deficit commission, had to say about that possibility last week on the show. >> he said he would be very pleased to do that. he shared that with me personally, as long as they move the treasury department to north carolina, to charlotte. i don't think -- >> he's worked so hard on this. you don't think he could be persuaded? >> never. because he wouldn't want to serve in a dysfunctional government. >> and no argument that it is dysfunctional. one of the key players here who is leaving government was mentioning -- i was asking, why is jack lew so disliked, let's say, by the republicans with whom he negotiates? and the answer that i was given was that he knows the budget. he knows the baseline and the baseline is really what mandates how much in cuts really will be cut and that he ran circles around the house negotiators last summer durings the super committee because he knew what he was talking about. which, you know, arguably that's a big difference. you
Dec 21, 2012 1:00am PST
alan simpson, erskine bowls and ed rendell and mayor bloomberg, the fix the debt initiative to try to get that done. >> well, you know, you probably heard this so much. the american people are so frustrated by this political theatre in washington. and a lot of the c.e.o.s who i am talking to and interviewing who are also on fix the debt are saying that the lawmakers are playing politics with the economy. i mean this is a really serious matter. why is it so difficult to get a deal and this balanced approach that you are talking about? >> well, it shouldn't be. but it is. and it is for this reason. you're dealing with extremely significant idea logical differences here. republicans believing strongly that the government is grow too fast and the spending needed to be restrained. democrats believing that there needs to be much more in the area revenues to support the government as it grows. and these are deep feelings. and toes are going to have to be stepped on by both sides. and the president is going to step on folks, toes on people on his left, and who don't want to go down the roa
Dec 10, 2012 5:00am EST
republicans want to take them off the table. now is just three weeks away. erskine bowles says we could be looking at 9% unemployment and another recession if we go over the cliff. tracie potts, wbal-tv 11 news. >> 45 degrees at the airport. tragedy strikes the nfl for the second week in a row. >> when in danger, text 911. >> this is the beltway at liberty road. more on weather and traffic when we come right back [ female announcer ] for those who love sweets, your season is here. let's just call it the baking time of year. you need special ingredients. you need the staples. that's a given. you need safeway sugar for just $1.97. and that magic thing that makes everyone want another -- only $2.99 for land o'lakes butter. and when hands get messy, quite surely they'll say, "yum! wow! yay! what a sweeter holiday." safeway. ingredients for life. >> welcome back. 5:10. visibility is down to about a quarter of a mile in some spots. temperatures in the 40's in the suburbs. the relative humidity is close to 100%. 47 degrees in white marsh. the fog will burn off. a cold front will come thr
Dec 9, 2012 5:00pm PST
seized this town, is kind of crazy. i mean, i love alan simpson and erskine bowles, but they're talking about inflation at a moment when people are paying us money to invest in our treasury bonds. you know, the summer before last, when we had the debt ceiling negotiations, and everybody was saying oh, our credit is about to go down the tubes. the price of u.s. treasury bonds were going up. so the fact is that we have a problem. i'm hoping that we'll deal with it, especially, you know, the old age entitlementes, because sooner or later, you and i are going to be old enough to qualify for medicare, and we're going to at the present time to be a good system. but we i think a little rationality is called for. >> schieffer: you're saying it's not as bad as it seems. the fact of the matter swhen the bush tax cuts run out at the end of the year, when payroll tax-- whatever they call it, runs out at the end of the year, people's taxes are going to go up. they may not be a crisis for some of the upper income folk but if you're down the line there, that's a big deal. >> and i fully believ
Dec 9, 2012 6:00pm EST
lines of communication remain open. on face the nation erskine bowles co-chair of the bipartisan deficit commission told bob schieffer he's a bit more optimistic than he was a week ago. >> we were going through the cab ukee theatre, one side making an offer, the other rejecting it and that is pretty natural in any deal. but you know, they've started to tango now and you know any time you got two guys in there tangoing you got a chance to get it done. >> meanwhile urging both sides to get this done jeffrey immelt chairman of general electric spoke to charlie rose. >> i would say the business community almost universitily speaks with one voice that this needs to get done and get done now. and moving it to next year is just failure. >> jeff: you can see the full jeffrey immelt interview first thing tomorrow on cbs this morning. >> big business is to the alone in wanting to avoid the fiscal cliff. tonight randall pinkston with 9 worries of small business. >> reporter: retired army officer rod hudson runs a 13 man business that operates at the centre of national security. >> we make s
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